Nadex (North American Derivatives Exchange, Inc.) is a CFTC regulated binary options exchange, owned by IG Group. They are located at: 311 South Wacker Drive, Suite 2675, Chicago, IL 60606. Their toll free number is: (877) 776-2339 and International: +1 312 884 0100, and their email is: [email protected].
Nadex Platform Review
Nadex uses a very robust and professional trading platform for binary options. They are a binary options exchange and not a broker, so they work with market makers and operate according to US Government regulations.
They have 5 minute, intraday, daily, and weekly options available. There are options for Indices, Forex, Jobless Claims, Fed Funds Rate, Non Farm Payroll, Copper, Corn, Crude Oil, Gold, Natural Gas, Soybeans and Silver.
What confuses most traders when they first start trading at Nadex is the amount of options available. There are literally hundred of options to choose from because of the many strike prices.
Nadex does not show the percent returns on options but rather a bid / offer price between 1 and 100.
For example; As you can see in the screenshot below.
The EUR/USD Forex pair is trading at $1.09051. The price for the $1.0905 call is $52.75, with a maximum profit of $47.25.
If you want to buy a PUT option on the Euro because you believe it will close lower than $1.0905 at expiration, then you would select SELL, and pay $45.50 with a potential profit of $54.50.
We created a Demo Account along side our real trading account just to get use to how the trading platform works. Once we got over the learning curve, there was simply no turning back, and we started customizing our trading setup, with various charts and option types ready for high speed trading. They offer mobile apps for Android, iPhone and iPad. Nadex charges the following trading fees: $1 per contract (capped at $50.00). The settlement fees are: $1 per contract (no cap). Minimum deposit for new accounts is only $250.
Nadex is regulated as a binary options exchange in the United States by the CFTC (Commodity Futures Trading Commission). The CFTC is the only regulator of binary options in the United States. To our knowledge there are only a few CFTC regulated exchanges in the US including Nadex, Cantor, and the CBOE.
Traders fund are kept in segregated accounts at either BMO Harris Bank or Fifth Third Bank.
Bottom line: This is the best binary options exchange for an American!
What are you thoughts about trading at Nadex?
Please leave your review in the comments below.